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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Increasing demand for electricity, increase in energy consumption due to urbanization & industrialization, and growth of the oil and gas industry across Middle East region are the factors which are expected to surge demand for switchgears, and consequently aid in growth of the bus bar market over the forecast period.

Furthermore, growth in the petrochemicals, power generation & distribution, natural gas exploration, and telecommunications sector will further increase demand for bus bars in Middle East region. For instance, according to the International Trade Administration, in 2016, Saudi Arabia introduced an investment plan of US$ 14.7 billion to refurbish as well as develop electricity transmission grids and another US$ 13.7 billion for an efficient distribution of electricity in the country.

Moreover, countries in the Middle East such as Saudi Arabia and the UAE have derived strong revenues from the oil sector that has led to the healthy GDP growth rates, owing to increase in revenues from the oil and gas sector. According to World Bank, an international financial institution, the GDP growth rate of Saudi Arabia was 2.2%, and that of the UAE was 1.4%, in 2018.

Increasing implementation of sustainable power transmission facilities to achieve continuous rising electricity demand will propel growth of bus bar market in Middle East region. For instance, in 2017, Saudi Electricity Company (SEC) announced the construction of six power plants and building of five interconnecting 380 kV transmission lines which require 1,376 miles of electrical conductors at an estimated cost of US$ 1.46 billion. Thus, high demand for electric power is leading to increasing requirement for transformers in these countries, which in turns, boost the bus bar market growth in Middle East region during the forecast period.

Market Trend:

Increasing adoption of electric vehicles will boost demand for bus bars during the forecast period. According to Coherent Market Insights’ analysis, in 2018, around 533 battery electric vehicles were sold across the MENA region. Electric vehicles (EVs) and hybrid-electric vehicles (HEVs) rely on power inverters, large-capacity battery packs, robust electric motor drives, and efficient distribution of power from charging source to battery and then throughout the vehicle.

Electric vehicles use a substantial amount of copper in batteries, inverters, copper rotor, electric motors, wiring, and in charging stations. According to International Copper Association (ICA), most cars use internal combustion engines that require up to 23 kg of copper, a battery electric vehicle uses 83 kg of copper, a plug-in hybrid electric vehicle uses 60 kg of copper, the hybrid electric vehicle uses 40 kg of copper, a battery-powered electric bus uses 224-369 kg of copper, and a hybrid electric bus uses 89 kg of copper which depends on the size of battery used.

Middle East held dominant position in the Middle East, North Africa, and Pakistan Bus Bar Market in 2020

Statistics:

Middle East held dominant position in the Middle East, North Africa, and Pakistan Bus Bar Market in 2020, accounting for 90.1% share in terms of value.

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Middle East, North Africa, and Pakistan Bus Bar Market Report Coverage

Report Coverage Details
Base Year: 2018 Market Size in 2020: US$ 996.4 Mn
Historical Data for: 2017  Forecast Period: 2019 to 2027
Forecast Period 2019 to 2027 CAGR: 5.6% 2027 Value Projection: US$ 1,462.5 Mn
Geographies covered:
  • Middle East: Saudi Arabia, Qatar, UAE, Kuwait, Oman, Jordan, Iraq, Bahrain and Rest of Middle East
  • North Africa: Algeria, Egypt, Morocco, Tunesia, and Rest of North Africa
  • Pakistan
Segments covered:
  • By Bus Bar Size (Tin-plated Bus Bar): 25 x X (1.60, 2.00, 3.00);40 x X (2.00, 2.50, 3.00, 4.00); 60 x X (5, 10, 12); 80 x X (3.00, 4.00, 5.00, 6.00); 100 x X (5.00, 8.00, 10.00, 12.00); 120 x X (10.00, 4.00) and Others
  • By Bus Bar Size (Bare Copper Bus Bar): 80 x X, 90 x X, 100 x X, 125 x X and others.
  • By Bus Bar Type: Bare Copper Bus Bar, Aluminum Bus Bar, And Tin Plated Bus Bar
  • By Application: Distribution, Substation, Motor Control, Oil And Gas, And Others
Companies covered:

Eaton Corporation, Hyundai Electric & Energy Systems, Luvata, Siemens AG, Mitsubishi Electric Corporation, General Electric, ABB Limited, Hitachi Ltd., Fuji Electric, Schneider Electric, Hyosung Corporation, Nexans S.A, Furukawa Electric Co., LTD., and Bahra Electric

Growth Drivers:
  • Increasing Energy Consumption Due To Urbanization And Industrialization Across Middle East Region
  • Operational & Cost Benefits And Ease Of Maintenance Of Bus Bar Over Cables 
Restraints & Challenges:
  • Fluctuation In Raw Material Prices 

Figure 1: Middle East, North Africa, and Pakistan Bus Bar Market Share (%), By Region, 2020

Middle East, North Africa and Pakistan Bus Bar  | Coherent Market Insights

Owing to presence of various market players Mitsubishi (and Luvata), Eaton, Hitachi, ABB, GE, Siemens, Alfanar Group, Schneider, among others accounted for largest share in Middle East Bus Bar Market in 2020 and is projected to retain its dominance during the forecast period.

Furthermore, Infrastructure investments such as airports, entertainment parks, ports, metro, and creation of free zones in the GCC region is one of the major factors that is expected to boost growth of busbar market in the country. For instance, according to Global Infrastructure Investment Index 2016, Qatar is one of the most attractive countries for infrastructure investments

Moreover, substantial developments have also been observed in the power infrastructure industry. Many new power generation plants are constructed, and the existing infrastructures are being renovated, thus impacting demand for busbars in Qatar. For instance, in 2018, Kahramaa – Qatar Power transmission project was planned in power & energy sector for around US$ 400 Mn.

Furthermore, increased in investments toward development of energy infrastructure projects to support electricity generation will further complement growth of the market

For instance, QRail Qatar Rail & Doha Metro infrastructure Projects are planned with investment of around US$ 18.5 Bn and is expected to complete by 2020.

Bare copper bus bar type segment is expected to drive the highest market growth during the forecast period

On the basis of bus bar type, the Middle East, North Africa and Pakistan bus bar market is segmented into bare copper bus bar, aluminum bus bar, and tin plated bus bar.

Bare copper bus bar segment is expected to be valued at US$ 653.0 million by 2027 from US$ 401.1 million in 2018, witnessing a CAGR of 5.6% over the forecast period from 2019 to 2027

Copper bus bar is the most commonly used bus bar for residential, commercial and industrial purposes. Copper bus bars are harder compared to aluminum bus bars, hence are ideal in complex current applications that require greater in-built resistance against corrosion and mechanical damage, so that it can provide better resistance in adverse weather conditions. Copper bars have less chance of developing problems in clamped joints due to cold metal flow under prolonged application of high contact pressure.

The temperature variations encountered under service conditions require certain amount of flexibility in the design. The lower coefficient of linear expansion of copper reduces the degree of flexibility required. Copper will therefore allow more compact installations in a variety of systems. Moreover, space considerations are of greater importance than weight. 

Greater weight may make installation slightly more difficult, however, since electromagnetic stress in the bar is usually more severe than the stress due to its weight, the mounting design is largely unaffected. Such compact installation helps to reduce the overall costs, service costs and improve the reliability.

The higher melting point and thermal conductivity of copper reduce the possibility of damage resulting from hot spots or accidental flashovers in service.

These properties have led to increasing use of copper bus bars which is expected to facilitate growth of the copper bus bar segment over the forecast period.

Figure 2: Middle East, North Africa, and Pakistan Bus Bar Market Value (US$ Mn) Analysis and Forecast, 2017 - 2027

Middle East, North Africa and Pakistan Bus Bar  | Coherent Market Insights

The Middle East, North Africa, and Pakistan Bus Bar Market was valued at US$ 996.4 Mn in 2020 and is expected to reach US$ 1,462.5 Mn by 2027 at a CAGR of 5.6% between 2019 and 2027.

Major players operating in the Middle East, North Africa, and Pakistan Bus Bar Market include Eaton Corporation, Hyundai Electric & Energy Systems, Luvata, Siemens AG, Mitsubishi Electric Corporation, General Electric, ABB Limited, Hitachi Ltd., Fuji Electric, Schneider Electric, Hyosung Corporation, Nexans S.A, Furukawa Electric Co., LTD., and Bahra Electric

Bus bars are extensively used in high current power supply, low voltage distribution, and control equipment, owing to its compact design. Due to the compact designs, bus bars require lesser space than conventional cabling systems. Furthermore, bus bars are used in various conductor types such as, panel boards, switchboards, bus-way systems, and low & medium voltage switchgear, among others.

Different bus bar systems such as double bus double breaker arrangement, main and transfer bus arrangement, and single bus-bar arrangement are easy to install and operate. Thus, high-rise buildings used for residential or commercial purposes prefer to use bus bars instead of conventional cabling. Furthermore, bus bars have significant advantages over cable such as, minimum spatial volume, improved electrical performance, ease of maintenance, fast installation, and energy savings in data center operation.

Market Dynamics

Bus bars are used in power infrastructure such as switchgear, substations, transformers, and other transmission and distribution (T&D) equipment. Bus bars are essential components in electrical power grids as these can decrease power loss by reducing the corona effect. The bus bar market is expected to exhibit growth at significant pace, owing to rising electricity demand from countries in the Middle East such as Saudi Arabia and the UAE. To meet the electricity demand, the Saudi Arabia is estimated to increase its power generation capacity from 77 GW in 2014 to 156 GW by 2040, according to Coherent Market Insights. In addition to this, in January 2014, ABB Ltd. received an order of US$ 60 million for substations that will boost the transmission capacity as well as supply electricity to King Abdullah Economic City (KAEC).

Furthermore, in MEA region, investment in power infrastructure is growing, with rising demand for electricity. For instance, in December 2018, Larsen & Toubro Limited (L&T), an Indian multinational conglomerate company, won a major order for the construction of 115kV substations with associated cable circuits and transmission lines in Saudi Arabia. The orders are for construction and other engineering job for power transmission and distribution (T&D) project. These projects either involve setting up of new plants and T&D network, leading to an increased demand for bus bars.

The price of copper depends on the ability of copper suppliers to extract and transport the product, as well as demand for goods and services that use copper. According to the International Monetary Fund (IMF) outlook 2018, an international organization, in 2017, the average price of copper was US$ 6,166 per metric ton compared to US$ 6,523 per metric ton in 2018. Furthermore, due to high fluctuations in copper and aluminum prices, key bus bar vendors have to use a major share of their manufacturing cost for acquiring these raw materials. According to Coherent Market Insights’ analysis, the total cost of copper and aluminum metals account for roughly 50% of the total production cost. The cost variations in the supply chain becomes critical for manufacturers, as there is no product differentiation and the price of a product determines the dominance of a supplier in the market. Hence, fluctuations in raw material prices is one of the major factors which is expected to hamper the market growth during forecast period.

Key features of the study:

  • This report provides in-depth analysis of Middle East, North Africa, and Pakistan bus bar market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019– 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading  market players
  • It profiles leading players in the Middle East, North Africa, and Pakistan bus bar market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
  • Companies covered as a part of this study include Eaton Corporation, Hyundai Electric & Energy Systems, Luvata, Siemens AG, Mitsubishi Electric Corporation, General Electric, ABB Limited, Hitachi Ltd., Fuji Electric, Schneider Electric, Hyosung Corporation, Nexans S.A, Furukawa Electric Co., LTD., and Bahra Electric
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
  • The Middle East, North Africa, and Pakistan bus bar market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Distributed fiber optic sensor market

Detailed Segmentation

  • Middle East, North Africa, and Pakistan Bus Bar Market, By Bus Bar Size (Tin-plated Bus Bar):
    • 25 x X (1.60, 2.00, 3.00)
    • 40 x X (2.00, 2.50, 3.00, 4.00)
    • 60 x X (5, 10, 12)
    • 80 x X (3.00, 4.00, 5.00, 6.00)
    • 100 x X (5.00, 8.00, 10.00, 12.00)
    • 120 x X (10.00, 4.00)
    • Others
  • Middle East, North Africa, and Pakistan Bus Bar Market, By Bus Bar Size (Bare Copper Bus Bar):
    • 80 x X
    • 90 x X
    • 100 x X
    • 125 x X
  • Middle East, North Africa, and Pakistan Bus Bar Market, By Bus Bar Type:
    • Bare Copper Bus Bar
    • Aluminum Bus Bar
    • Tin Plated Bus Bar
  • Middle East, North Africa, and Pakistan Bus Bar Market, By Application:
    • Distribution
    • Substation
    • Motor Control
    • Oil And Gas
    • Others
  • Middle East, North Africa, and Pakistan Bus Bar Market, By Region:
    • Middle East
      • By Bus Bar Size (Tin-plated Bus Bar):
        • 25 x X (1.60, 2.00, 3.00)
        • 40 x X (2.00, 2.50, 3.00, 4.00)
        • 60 x X (5, 10, 12)
        • 80 x X (3.00, 4.00, 5.00, 6.00)
        • 100 x X (5.00, 8.00, 10.00, 12.00)
        • 120 x X (10.00, 4.00)
      • By Bus Bar Size (Bare Copper Bus Bar):
        • 80 x X
        • 90 x X
        • 100 x X
        • 125 x X
      • By Bus Bar Type:
        • Bare Copper Bus Bar
        • Aluminum Bus Bar
        • Tin Plated Bus Bar
      • By Application:
        • Distribution
        • Substation
        • Motor Control
        • Oil And Gas
        • Others
      • By Country:
        • Saudi Arabia
        • Qatar
        • UAE
        • Kuwait
        • Oman
        • Jordan
        • Iraq
        • Bahrain
        • Rest of Middle East
    • North Africa
      • By Bus Bar Size (Tin-plated Bus Bar):
        • 25 x X (1.60, 2.00, 3.00)
        • 40 x X (2.00, 2.50, 3.00, 4.00)
        • 60 x X (5, 10, 12)
        • 80 x X (3.00, 4.00, 5.00, 6.00)
        • 100 x X (5.00, 8.00, 10.00, 12.00)
        • 120 x X (10.00, 4.00)
      • By Bus Bar Size (Bare Copper Bus Bar):
        • 80 x X
        • 90 x X
        • 100 x X
        • 125 x X
      • By Bus Bar Type:
        • Bare Copper Bus Bar
        • Aluminum Bus Bar
        • Tin Plated Bus Bar
      • By Application:
        • Distribution
        • Substation
        • Motor Control
        • Oil And Gas
        • Others
      • By Country:
        • Algeria
        • Egypt
        • Morocco
        • Tunesia
        • Rest of North Africa
    • Pakistan
      • By Bus Bar Size (Tin-plated Bus Bar):
        • 25 x X (1.60, 2.00, 3.00)
        • 40 x X (2.00, 2.50, 3.00, 4.00)
        • 60 x X (5, 10, 12)
        • 80 x X (3.00, 4.00, 5.00, 6.00)
        • 100 x X (5.00, 8.00, 10.00, 12.00)
        • 120 x X (10.00, 4.00)
      • By Bus Bar Size (Bare Copper Bus Bar):
        • 80 x X
        • 90 x X
        • 100 x X
        • 125 x X
      • By Bus Bar Type:
        • Bare Copper Bus Bar
        • Aluminum Bus Bar
        • Tin Plated Bus Bar
      • By Application:
        • Distribution
        • Substation
        • Motor Control
        • Oil And Gas
        • Others
  • Company Profiles
    • Eaton Corporation*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Hyundai Electric & Energy Systems
    • Luvata
    • Siemens AG
    • Mitsubishi Electric Corporation
    • General Electric
    • ABB Limited
    • Hitachi Ltd.
    • Fuji Electric
    • Schneider Electric
    • Hyosung Corporation
    • Nexans S.A
    • Furukawa Electric Co., LTD.
    • Bahra Electric
    • Others

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Industry Trend
    • Merger and Acquisitions
    • Regulatory Framework
    • New Product Approvals/ Launch
    • Value Chain Analysis
    • Porter’s Five Forces Analysis
    • Pricing Analysis
    • Export Import Analysis
  3. Market Analysis BY BUS BAR SIZE
    • Bus Bar Size (Tin Bus Bar Sizes)
    • 25 x X (1.60, 2.00, 3.00)*
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • 40 x X (2.00, 2.50, 3.00, 4.00, 10.00)
    • 60 x X (5, 10, 12)
    • 80 x X (3.00, 4.00, 5.00, 6.00, 10.00)
    • 100 x X (5.00, 8.00, 10.00, 12.00)
    • 120 x X (10.00, 4.00)
    • Others
  4. Market Analysis BY BUS BAR SIZE
    • Bus Bar Size (Bare Bus Bar Sizes)
    • 80 x X*
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • 90 x X
    • 100 x X
    • 125 x X
    • Others
  5. Market Analysis BY BUS BAR Type
    • Introduction
    • Market Share Analysis, 2017 and 2027 (%)
    • Bare Copper Bus Bar
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • Tin-Plated Bus Bar
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • Aluminum Bus Bar
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
  6. Market Analysis BY BUS BAR APPLICATION
    • Introduction
    • Market Share Analysis, 2017 and 2027 (%)
    • Distribution
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • Substation
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • Oil and Gas
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • Motor Control
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
    • Other
      • Market Size and Forecast, 2017 - 2027, (US$ Million)
      • Market Size and Forecast, 2017 - 2027, (Metric Tons)
  7. Middle East, North Africa, and Pakistan Bus Bar Market, By Region, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Introduction and Supplier Share Analysis
      • Market Size and Forecast, By Bus Bar Size (Tin-plated), 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Bus Bar Size (Bare Copper), 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Bus Bar Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Saudi Arabia*
          • Introduction
          • Market Size and Forecast, By Bus Bar Size (Tin-plated), 2017 - 2027 (US$ Million)
          • Market Size and Forecast, By Bus Bar Size (Bare Copper), 2017 - 2027 (US$ Million)
          • Market Size and Forecast, By Bus Bar Type, 2017 - 2027 (US$ Million)
          • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
        • Qatar
        • UAE
        • Kuwait
        • Oman
        • Jordan
        • Iraq
        • Bahrain
        • Rest of Middle East
    • Middle East
      • Introduction and Supplier Share Analysis
      • Market Size and Forecast, By Bus Bar Size (Tin-plated), 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Bus Bar Size (Bare Copper), 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Bus Bar Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Algeria
        • Egypt
        • Morocco
        • Tunesia
        • Rest of North Africa
    • Pakistan
      • Introduction and Supplier Share Analysis
      • Market Size and Forecast, By Bus Bar Size (Tin-plated), 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Bus Bar Size (Bare Copper), 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Bus Bar Type, 2017 - 2027 (US$ Million)
      • Market Size and Forecast, By Application, 2017 - 2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
  8. Competitive Landscape
    • Company Profiles
      • Eaton Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hyundai Electric & Energy Systems
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Luvata
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Siemens AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mitsubishi Electric Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • ABB Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hitachi Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fuji Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schneider Electric Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hyosung Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nexans S.A
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Furukawa Electric Co., LTD.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Bahra Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on " Middle East, North Africa, And Pakistan Bus Bar Market - forecast to 2027”.

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Frequently Asked Questions

The Middle East, North Africa, and Pakistan Bus Bar Market is expected to reach US$ 1,462.5 million by 2027.
The market is expected to witness a CAGR of 5.6% during the forecast period (2019-2027).
Increasing energy consumption due to urbanization and industrialization across Middle East region .
Bare copper bus bar held the largest market share among bus bar type in 2020.
Middle East region held the largest share in the market in 2020.
Eaton Corporation, Hyundai Electric & Energy Systems, Luvata, Siemens AG, Mitsubishi Electric Corporation, General Electric, ABB Limited, Hitachi Ltd., Fuji Electric, Schneider Electric, Hyosung Corporation, Nexans S.A, Furukawa Electric Co., LTD., and Bahra Electric.
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